HONG KONG, March 22 (Reuters) - Cheung Kong Property Holdings Ltd, the real estate division of Hong Kong’s richest man, Li Ka-shing, on Wednesday reported a 16 percent rise in 2016 full-year core profit due to solid performance across the group’s property businesses.
The city’s second-largest developer by market value reported core profit, which excludes revaluation gains, of HK$18.03 billion ($2.32 billion) for the 12 months through December.
Profit attributable to shareholders rose 13 percent to HK$19.42 billion.
Hong Kong’s private home prices have climbed for 10 consecutive months, hitting a record high in January despite government measures to cool the market.
$1 = 7.7669 Hong Kong dollars Reporting by Venus Wu